S T A T E O F N E W Y O R K
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4564--A
2013-2014 Regular Sessions
I N A S S E M B L Y
February 6, 2013
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Introduced by M. of A. KOLB, TEDISCO, OAKS, REILICH, CORWIN, MONTESANO,
PALMESANO -- Multi-Sponsored by -- M. of A. BARCLAY, BUTLER, CROUCH,
CURRAN, DUPREY, FINCH, GOODELL, HAWLEY, JORDAN, P. LOPEZ, RA, RAIA,
SALADINO, TENNEY, WALTER -- read once and referred to the Committee on
Ways and Means -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the tax law, in relation to net income base
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The opening paragraph and subparagraphs (iv) and (vii) of
paragraph (a) of subdivision 1 of section 210 of the tax law, the open-
ing paragraph and subparagraph (iv) as amended by section 2 of part N of
chapter 60 of the laws of 2007, subparagraph (vii) as added by section 1
of part Z of chapter 59 of the laws of 2013, are amended to read as
follows:
Entire net income base. For taxable years beginning before July first,
nineteen hundred ninety-nine, the amount prescribed by this paragraph
shall be computed at the rate of nine percent of the taxpayer's entire
net income base. For taxable years beginning after June thirtieth, nine-
teen hundred ninety-nine and before July first, two thousand, the amount
prescribed by this paragraph shall be computed at the rate of eight and
one-half percent of the taxpayer's entire net income base. For taxable
years beginning after June thirtieth, two thousand and before July
first, two thousand one, the amount prescribed by this paragraph shall
be computed at the rate of eight percent of the taxpayer's entire net
income base. For taxable years beginning after June thirtieth, two thou-
sand one and before January first, two thousand seven, the amount
prescribed by this paragraph shall be computed at the rate of seven and
one-half percent of the taxpayer's entire net income base. For taxable
years beginning [on or] after January first, two thousand seven AND
BEFORE JANUARY FIRST, TWO THOUSAND FOURTEEN, the amount prescribed by
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05916-02-3
A. 4564--A 2
this paragraph shall be computed at the rate of seven and one-tenth
percent of the taxpayer's entire net income base. FOR TAXABLE YEARS
BEGINNING ON OR AFTER JANUARY FIRST, TWO THOUSAND FOURTEEN, THE AMOUNT
PRESCRIBED BY THIS PARAGRAPH SHALL BE COMPUTED AT THE RATE OF SIX AND
EIGHTY-FIVE ONE HUNDREDTH PERCENT OF THE TAXPAYER'S ENTIRE NET INCOME
BASE. The taxpayer's entire net income base shall mean the portion of
the taxpayer's entire net income allocated within the state as herein-
after provided, subject to any modification required by paragraphs (d)
and (e) of subdivision three of this section. However, in the case of a
small business taxpayer, as defined in paragraph (f) of this subdivi-
sion, the amount prescribed by this paragraph shall be computed pursuant
to subparagraph (iv) of this paragraph and in the case of a manufactur-
er, as defined in subparagraph (vi) of this paragraph, the amount
prescribed by this paragraph shall be computed pursuant to subparagraph
(vi) of this paragraph.
(iv) for taxable years beginning [on or] after January first, two
thousand seven AND BEFORE JANUARY FIRST, TWO THOUSAND FOURTEEN, if the
entire net income base is not more than two hundred ninety thousand
dollars the amount shall be six and one-half percent of the entire net
income base; if the entire net income base is more than two hundred
ninety thousand dollars but not over three hundred ninety thousand
dollars the amount shall be the sum of (1) eighteen thousand eight
hundred fifty dollars, (2) seven and one-tenth percent of the excess of
the entire net income base over two hundred ninety thousand dollars but
not over three hundred ninety thousand dollars and (3) four and thirty-
five hundredths percent of the excess of the entire net income base over
three hundred fifty thousand dollars but not over three hundred ninety
thousand dollars. FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY FIRST,
TWO THOUSAND FOURTEEN, IF THE ENTIRE NET INCOME IS NOT OVER THREE
HUNDRED NINETY THOUSAND DOLLARS THE AMOUNT SHALL BE SIX PERCENT OF THE
ENTIRE NET INCOME BASE; PROVIDED THAT THE RATE AT WHICH THE TAX IS
COMPUTED IN EFFECT FOR TAXABLE YEARS BEGINNING ON OR AFTER JANUARY
FIRST, TWO THOUSAND FOURTEEN AND BEFORE JANUARY FIRST, TWO THOUSAND
FIFTEEN, SHALL BE REDUCED BY NINE AND TWO-TENTHS PERCENT, FOR TAXABLE
YEARS COMMENCING ON OR AFTER JANUARY FIRST, TWO THOUSAND FIFTEEN AND
BEFORE JANUARY FIRST, TWO THOUSAND SIXTEEN, TWELVE AND THREE-TENTHS
PERCENT, FOR TAXABLE YEARS COMMENCING ON OR AFTER JANUARY FIRST, TWO
THOUSAND SIXTEEN AND BEFORE JANUARY FIRST, TWO THOUSAND SEVENTEEN,
FIFTEEN AND FOUR-TENTHS PERCENT, FOR TAXABLE YEARS COMMENCING ON OR
AFTER JANUARY FIRST, TWO THOUSAND SEVENTEEN AND BEFORE JANUARY FIRST,
TWO THOUSAND EIGHTEEN, TWENTY-FIVE PERCENT, FOR TAXABLE YEARS BEGINNING
OR OR AFTER JANUARY FIRST, TWO THOUSAND EIGHTEEN AND BEFORE JANUARY
FIRST, TWO THOUSAND NINETEEN, AND ONE HUNDRED PERCENT FOR TAXABLE YEARS
BEGINNING ON AND AFTER JANUARY FIRST, TWO THOUSAND NINETEEN;
(vii) For a qualified New York manufacturer, as defined in subpara-
graph (vi) of this paragraph, the rate at which the tax is computed in
effect for taxable years beginning on or after January first, two thou-
sand thirteen and before January first, two thousand fourteen for quali-
fied New York manufacturers shall be reduced by nine and two-tenths
percent for taxable years commencing on or after January first, two
thousand fourteen and before January first, two thousand fifteen, twelve
and three-tenths percent for taxable years commencing on or after Janu-
ary first, two thousand fifteen and before January first, two thousand
sixteen, fifteen and four-tenths percent for taxable years commencing on
or after January first, two thousand sixteen and before January first,
two thousand eighteen, [and] twenty-five percent for taxable years
A. 4564--A 3
beginning on or after January first, two thousand eighteen AND BEFORE
JANUARY FIRST, TWO THOUSAND NINETEEN, AND ONE HUNDRED PERCENT FOR TAXA-
BLE YEARS BEGINNING ON AND AFTER JANUARY FIRST, TWO THOUSAND NINETEEN.
S 2. This act shall take effect immediately.